When selecting the best payroll software provider for your needs, it’s important to consider ease of use, integrations, support, and bonus features. Ultimately, any software you choose is bound to streamline the data input process. It’s a simple matter of finding a program that’s as comprehensive as you need. Trusted software providers like QuickBooks Payroll make handling payroll a walk in the park.
The process of initially setting up payroll with software is similar to the manual method. You’ll need to make sure your business is properly set up with the ATO. You’ll also need to have your employees’ completed TFN forms to add into the system, where you then have the option to lodge them directly with the ATO once completed. With this information, you can enter your business and employee information. From there, the software handles all calculations for you and payroll processing becomes a breeze.
Go through your payroll to double-check that all information is correct and all calculations are accurate.
Once your payroll software has calculated all of your employee’s wages and withholding amounts, hit the “Finalise Pay Run” button, and you’re done. From there you will be able to download the payment file (for electronic wages transfers) and import this into your banking software for payment as well as lodge the STP report with the ATO. Payment of PAYG withheld, payroll taxes and superannuation will be done separately on relevant IAS/BAS lodgements, state payroll tax lodgements and superannuation payment processing.
Offering worry-free payroll processing, time-saving automation, and many other advantages, QuickBooks Payroll provides the support you need, all year-round. For tips on setting up QuickBooks Payroll, head to the Payroll Resource Hub for articles and guides to help you get started.
Disclaimer: Intuit does not provide professional advice. We may provide you with information that may be of use to you, however this is not to be considered as a substitute for getting your own professional advice. Intuit is not liable to you for your use or reliance on the information provided by it.
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